Full Description

Cognizant Technology Solutions Corporation (Cognizant) is a provider of custom information technology (IT) consulting and technology services, as well as outsourcing services for Global 2000 companies located in North America, Europe and Asia. The Company’s principal services include technology strategy consulting; complex systems development; enterprise software package implementation and maintenance; data warehousing and business intelligence; application testing; application maintenance; infrastructure management, and vertically-oriented business process outsourcing (V-BPO). The Company operates in four business segments: Financial Services, Healthcare, Manufacturing/Retail/Logistics and Other, which includes communications, media and information services and high technology. In September 2009, the Company announced the acquisition of substantially all of the assets of Pepperweed Advisors, the IT consulting services division of Pepperweed Consulting.

Financial Services

During the year ended December 31, 2008, the Company’s Financial Services business segment represented approximately 45.6% of its total revenues. This business segment provides services to its customers operating in the industries, such as capital markets, banking and insurance. Cognizant focuses on the needs of broker/dealers, asset management firms, depositories, clearing organizations and exchanges. The Company focuses on retail and commercial banks, and diversified financial enterprises. Cognizant assists these clients in such areas as consumer lending, cards and payments, wholesale banking, risk management, investment management, corporate services and retail banking. It assists with the needs of property and casualty insurers, life insurers, reinsurance firms and insurance brokers. The Company focuses on such areas as business acquisition, policy administration, claims processing, management reporting, regulatory compliance and reinsurance.

Healthcare

During 2008, Cognizant’s Healthcare business segment represented approximately 24.4% of its total revenues. This business segment provides services to its customers operating in industries, including healthcare and life sciences. The Company’s healthcare service teams focus on the industry solutions, such as broker compensation, sales and underwriting systems, provider management, plan sponsor administration, electronic enrollment, membership, billing, claims processing, medical management and pharmacy benefit management. Some of Cognizant’s life sciences solutions include Prescriber behavior analysis and insight, longitudinal prescription data management systems, sales force compensation systems, sales data and claims data management systems, clinical trial solutions, 21CFR11 assessment and computer systems validation, data mining and business intelligence solutions, e-business and data portals, and enterprise resource planning (ERP) implementation, upgrade and maintenance services.

Manufacturing / Retail / Logistics

During 2008, the Company’s Manufacturing, Logistics and Retail business segment represented approximately 15.8% of its total revenues. This business segment services customers in industry groups, such as manufacturing and logistics, and retail. Some of its manufacturing and logistics solutions include supply chain management, warehouse and yard management, waste management, transportation management, optimization, portals and ERP solutions. Cognizant serves a range of retailers and distributors, including supermarkets, specialty premium retailers and mass-merchandise discounters.

Other

In 2008, its Other business segment represented approximately 14.2% of its total revenues. The Company’s communications industry practice serves communications service providers, equipment vendors and software vendors. Some of its solutions include supply chain management solutions, from pre-press to material procurement, circulation, logistics and vendor management; business solutions covering advertising management, online media and e-business; workflow automation covering the product development process for broadcasters; spot ad buying systems covering agency of record, traffic management, post-buy analysis and financial management; digital asset management (DAM) and digital rights management (DRM), and operational systems, including ad sales, studio management, outsourcing billing and payments, along with content management and delivery. Its high technology segment is an independent software vendor (ISVs) and online service provider.

The Company competes with Infosys Technologies, Tata Consultancy Services, WIPRO, Accenture, Computer Sciences Corporation, Electronic Data Systems and IBM Global Services.